INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
This Division applies, in relation to instalments of tax payable by an early balancing company in respect of income of the year of income commencing on 1 July 1986 or a subsequent year of income, as if:
(a) references in section 221AC (including that section as it applies in accordance with section 102L or 102T ) and section 221AF to a year of tax were references to the period (in this subsection referred to as the ``substituted instalment period'') of one year commencing on:
(i) the first day of the month next following the month in which the year of income of the company ends; or
whichever is the later; and
(ii) 1 January in the financial year next preceding the year of tax,
(b) references in sections 221AF and 221AG to a specified date in a year of tax were references to the date that precedes the specified date by the number of months in the period commencing on the first day of the substituted instalment period and ending immediately before the beginning of the year of tax. 221AB(2) [``early balancing company'']
In this section, ``early balancing company'' means a company whose year of income ends more than 1 month before the beginning of the year of tax.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.